Fisher Asset Management LLC Trims Stock Holdings in Cogent Biosciences, Inc. $COGT

Fisher Asset Management LLC trimmed its holdings in Cogent Biosciences, Inc. (NASDAQ:COGT) by 53.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,914 shares of the technology company’s stock after selling 55,578 shares during the quarter. Fisher Asset Management LLC’s holdings in Cogent Biosciences were worth $1,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COGT. EverSource Wealth Advisors LLC raised its holdings in shares of Cogent Biosciences by 1,164.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 708 shares of the technology company’s stock worth $25,000 after buying an additional 652 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Cogent Biosciences by 41.4% in the second quarter. Osaic Holdings Inc. now owns 4,550 shares of the technology company’s stock worth $33,000 after buying an additional 1,333 shares during the period. Strs Ohio purchased a new stake in shares of Cogent Biosciences in the first quarter worth approximately $36,000. Global Retirement Partners LLC purchased a new stake in shares of Cogent Biosciences in the fourth quarter worth approximately $37,000. Finally, PNC Financial Services Group Inc. grew its stake in Cogent Biosciences by 414.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,032 shares in the last quarter.

Cogent Biosciences Stock Down 1.2%

Shares of NASDAQ COGT opened at $34.96 on Friday. The company has a current ratio of 15.14, a quick ratio of 15.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.97 billion, a PE ratio of -16.11 and a beta of 0.37. The stock’s fifty day simple moving average is $35.28 and its two-hundred day simple moving average is $36.71. Cogent Biosciences, Inc. has a 12-month low of $5.03 and a 12-month high of $43.73.

Cogent Biosciences (NASDAQ:COGT) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). As a group, analysts expect that Cogent Biosciences, Inc. will post -2.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Piper Sandler increased their price objective on Cogent Biosciences from $39.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Robert W. Baird set a $35.00 price objective on Cogent Biosciences in a research note on Thursday, February 19th. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of Cogent Biosciences in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cogent Biosciences in a research note on Friday, April 10th. Finally, Wall Street Zen cut Cogent Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

Cogent Biosciences Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.